1. BITBILIHome
  2. Article

Polkadot price analysis: DOT shows hint of a rise as price targets $6

• 168 views

TL;DR Breakdown

. Polkadot price rose 1 percent over the past 24 hours
. Price could reach $5.5 over the coming trading sessions
. Resistance remains at $6 mark

Polkadot price analysis shows hints of an uptrend developing gradually, after price rose 1 percent over the past 24 hours to reach the $5.5 mark. After spending the current month in a sideways pattern, DOT price has largely struggled just above the $5 support zone. After climbing up to $5.37 at the time of writing, Polkadot could head up to $5.5 over the coming trading sessions in the U.S. DOT trading volume over the past 24 hours dropped slightly, while market cap went up to $7,170,186,213.

The larger cryptocurrency market showed minor recoveries over the past 24 hours, as Bitcoin rose 1 percent to $27,200, and Ethereum rose 2 percent to $1,850. Among leading Altcoins, Ripple stayed up to the $0.46 mark, with Cardano keeping at $0.37 and Dogecoin dropping 1 percent to move down to $0.07.

Screenshot 2023 05 23 at 9.25.06 PMPolkadot price analysis: DOT shows hint of a rise as price targets
Polkadot price analysis: Cryptocurrency heat map. Source: Coin360

Polkadot price analysis: RSI gradually rise upwards on daily chart

On the 24-hour candlestick chart for Polkadot price analysis, price can be seen mostly trending in a horizontal pattern around the $5.3 mark. However, the latest day candlestick shows some promise of an uptrend as price rose up to $5.45. The increment took DOT price above its 9 and 21-day moving averages, as well as the crucial 50-day exponential moving average (EMA) at $5.34.

DOTUSDT 2023 05 23 21 33 40Polkadot price analysis: DOT shows hint of a rise as price targets
Polkadot price analysis: 24-hour chart. Source: Trading View

The 24-hour relative strength index (RSI) can be seen picking up around the 43 mark to show increasing market valuation for DOT. As the RSI value reaches the 50 mark, price could hit an uptrend to pursue the $6 resistance. In addition, the moving average convergence divergence (MACD) curve also shows a bullish divergence taking place, with the trend line crossing above the signal line.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Polkadot price analysis: DOT shows hint of a rise as price targets $6

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月25日 12:03
Next 2023年5月25日 14:29

Related articles

  • Gucci offers Materials NFT holders exclusive access to luxury products

    TL;DR Breakdown Gucci has announced that the holders of its Gucci Materials NFT can now exchange them for premium merchandise. Bridging the gap between digital and physical experiences. Description Gucci has unveiled an exciting utility for its Gucci Material NFTs, allowing holders to exchange their tokens for premium merchandise. The luxury brand, owned by Kering, collaborated with the partner platform 10KTF.shop to offer bifold wallets and Gucci x 10KTF co-branded duffle bags as redemption options for the NFTs. Gucci reveals utility behind the Material … Read more Gucci has unveiled an exciting utility for its Gucci Material NFTs, allowing holders to exchange their tokens for premium merchandise. The luxury brand, owned by Kering, collaborated with the partner platform 10KTF.shop to offer bifold wallets and Gucci x 10KTF co-branded duffle bags as redemption options for the NFTs. Gucci reveals utility behind the Material NFTs The much-awaited reveal comes after months of speculation about the purpose and utility behind the 2,896 NFTs that were minted in March. To avail themselves of the redemption facility, token holders can head to the 10KTF.shop platform….

    Article 2023年7月30日

  • Twitter vs. Threads – Elon Musk and Jack Dorsey go after Mark Zuckerberg

    TL;DR Breakdown Former Twitter CEO Elon Musk and co-founder Jack Dorsey go after the CEO of Meta, Mark Zuckerberg, for Meta threads. Social media users point out the dangers of social monopolization by Zuckerberg, a trend seen in all his apps. Elon Musk makes it abundantly clear that he is okay with competition, but he will not stand for cheating. Description Former Twitter CEO Elon Musk and co-founder Jack Dorsey have criticized the social media giant formerly known as Facebook’s new text-based app, Meta’s Threads. Elon Musk is concerned about the control and monopolization of social media platforms, especially by Mark Zuckerberg, CEO of Meta. Elon Musk has been in a hot seat since he took … Read more Former Twitter CEO Elon Musk and co-founder Jack Dorsey have criticized the social media giant formerly known as Facebook’s new text-based app, Meta’s Threads. Elon Musk is concerned about the control and monopolization of social media platforms, especially by Mark Zuckerberg, CEO of Meta. Elon Musk has been in a hot seat since he took over Twitter, and that won’t end…

    Article 2023年7月9日

  • Smart contracts show resilience amidst market uncertainty

    TL;DR Breakdown The Smart contracts industry has demonstrated great resilience in the face of uncertainty in the market. The demand for blockchain-based solutions remains high. Description The second quarter of 2023 has been regarded by some as a challenging period, with the crypto space experiencing lower investments from venture capital firms. However, despite the setbacks, the smart contracts industry has demonstrated remarkable resilience, driven by growing demand for blockchain-based solutions. A notable player in the blockchain platform sector, BNB Chain, recently … Read more The second quarter of 2023 has been regarded by some as a challenging period, with the crypto space experiencing lower investments from venture capital firms. However, despite the setbacks, the smart contracts industry has demonstrated remarkable resilience, driven by growing demand for blockchain-based solutions. A notable player in the blockchain platform sector, BNB Chain, recently released its Q2 report for 2023, which sheds light on the industry’s current state. Verified smart contracts are on the rise Among the positive indicators is an increase in verified smart contracts on multiple blockchains. BNB Chain, along with platforms like…

    Article 2023年7月28日

  • Corporate depositors push US banks for higher interest rates

    TL;DR Breakdown Corporate depositors are pushing US banks for higher interest rates, putting pressure on banks’ profit margins. US banks, having benefited from raising loan rates faster than savings interest rates, are now facing challenges as clients shift funds to higher-yielding accounts. Banks such as Bank of America, PNC, and BNY Mellon have reported drops in net interest income. Description The dynamics of the banking sector are undergoing a seismic shift as corporate depositors urge US banks to offer higher interest rates. This move is causing ripples of concern for the profitability of these financial institutions and underscores the growing challenges they face in generating revenue amidst tightening monetary policy. Corporate Demand Squeezes US Bank … Read more The dynamics of the banking sector are undergoing a seismic shift as corporate depositors urge US banks to offer higher interest rates. This move is causing ripples of concern for the profitability of these financial institutions and underscores the growing challenges they face in generating revenue amidst tightening monetary policy. Corporate Demand Squeezes US Bank Margins In the wake of aggressive rate…

    Article 2023年7月20日

  • Circle looking to issue stablecoin in Japan under new stablecoin law

    TL;DR Breakdown Circle, the issuer of  stablecoin USDC, has announced that it is considering issuing a stablecoin in Japan The bullish statement comes after Japan’s announcement on introducing stablecoin guidelines Circle has been making major moves in Asia to grow its presence Description Circle, the issuer of  stablecoin USDC, has announced that it is considering issuing a stablecoin in Japan. In an interview with CoinDesk Japan, Jeremy Allaire, the Circle CEO, mentioned that Japan will grow into a substantial market if stablecoins are widely used in international transactions and global commerce. The bullish statement comes after Japan’s announcement … Read more Circle, the issuer of  stablecoin USDC, has announced that it is considering issuing a stablecoin in Japan. In an interview with CoinDesk Japan, Jeremy Allaire, the Circle CEO, mentioned that Japan will grow into a substantial market if stablecoins are widely used in international transactions and global commerce. The bullish statement comes after Japan’s announcement on introducing stablecoin guidelines. Circle seizes opportunity under new stablecoin law The Japan stablecoin bill took effect on June 1, making the country one…

    Article 2023年7月8日
TOP